Korean Central Banker
Plays Down Rate Remarks

A Wall Street Journal News Roundup

Updated April 24, 2006 12:01 a.m. ET

SEOUL -- Bank of Korea Gov. Lee Seongtae Friday distanced himself from earlier remarks pointing to a possible rate increase in May, saying the market may have misinterpreted his comments as indicating an imminent monetary tightening.

The statement sparked a rush of buying in the bond market, where investors had been betting that overnight call-rate targets would be raised either next month or in June.